Medtronic plc (NYSE:MDT) Shares Sold by Greenfield Savings Bank

Greenfield Savings Bank lowered its position in Medtronic plc (NYSE:MDT) by 14.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 3,789 shares of the medical technology company’s stock after selling 619 shares during the quarter. Greenfield Savings Bank’s holdings in Medtronic were worth $340,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Empowered Funds LLC grew its position in Medtronic by 2.7% in the 4th quarter. Empowered Funds LLC now owns 105,822 shares of the medical technology company’s stock worth $8,453,000 after purchasing an additional 2,778 shares during the last quarter. Equitable Trust Co. grew its position in Medtronic by 91.7% in the 4th quarter. Equitable Trust Co. now owns 39,645 shares of the medical technology company’s stock worth $3,167,000 after purchasing an additional 18,968 shares during the last quarter. TCTC Holdings LLC grew its position in Medtronic by 3.4% in the 4th quarter. TCTC Holdings LLC now owns 39,718 shares of the medical technology company’s stock worth $3,173,000 after purchasing an additional 1,301 shares during the last quarter. Brighton Jones LLC grew its position in Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after purchasing an additional 37,265 shares during the last quarter. Finally, Oxford Asset Management LLP grew its position in Medtronic by 70.1% in the 4th quarter. Oxford Asset Management LLP now owns 7,442 shares of the medical technology company’s stock worth $594,000 after purchasing an additional 3,068 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $85.58 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. Medtronic plc has a twelve month low of $75.96 and a twelve month high of $96.25. The firm’s 50 day moving average price is $84.04 and its two-hundred day moving average price is $86.16. The firm has a market cap of $109.76 billion, a P/E ratio of 26.01, a PEG ratio of 2.22 and a beta of 0.81.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.04. The firm had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 earnings per share. On average, analysts forecast that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Friday, June 27th. This is a positive change from Medtronic’s previous quarterly dividend of $0.70. Medtronic’s payout ratio is currently 78.45%.

Wall Street Analyst Weigh In

Several analysts recently commented on MDT shares. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and increased their target price for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Royal Bank of Canada dropped their price target on shares of Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a research note on Thursday, May 22nd. Wall Street Zen downgraded shares of Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Robert W. Baird reduced their price objective on shares of Medtronic from $94.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, May 22nd. Finally, Mizuho cut their price target on shares of Medtronic from $100.00 to $98.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.00.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.